How to Use UPI for Cash Withdrawal from ATM? A Stepwise Guide

Demystifying the steps to use UPI for cash withdrawal from ATM

UPI, or Unified Payments Interface, is a mobile app that allows users to transfer money between bank accounts using a single window. UPI is developed by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India (RBI). UPI can also be used to withdraw cash from ATMs without using a debit or credit card. This feature is called UPI Cash Withdrawal or UPI Cardless Cash.

UPI Cash Withdrawal is a convenient and secure way to withdraw cash from an ATM, especially in emergencies or when you forget your card. It also reduces the risk of card skimming, cloning, or theft. UPI Cash Withdrawal scans a QR code displayed on the ATM screen using your UPI app. You must not enter your phone number, OTP, or PIN at the ATM.

Here are the steps to use UPI for cash withdrawal from ATM:

1. Find an ATM that supports UPI Cash Withdrawal. You can identify such ATMs by looking for their UPI logo or sticker.
2. Select “UPI Cash Withdrawal” on the ATM screen or “UPI Cardless Cash.”
3. Enter the amount you want to withdraw. Depending on the ATM, the amount should be in multiples of 100, 500, 1000, 2000, or 5000.
4. The ATM will generate and display a QR code for your chosen amount. The QR code will be valid for 3 minutes.
5. Open your UPI app on your smartphone and scan the QR code using the app’s camera or QR scanner feature.
6. Enter your UPI PIN and confirm the transaction on your app.
7. The ATM will dispense your cash; a confirmation notification will appear on your app.
8. Collect your cash and receipt from the ATM before leaving.

Some important points to note while using UPI for cash withdrawal from ATM are:

• The withdrawal limit is Rs 10,000 per transaction and day.
• The withdrawal will be deducted from your daily UPI transaction limit, which varies from bank to bank.
• You can use any UPI app that supports this feature, such as Google Pay, PhonePe, Paytm, BHIM, etc.
• You can switch between bank accounts linked to your UPI app while withdrawing cash from an ATM.
• You can also use this feature to withdraw cash for someone else by scanning the QR code on their phone.

UPI Cash Withdrawal is a game-changing innovation that makes cash withdrawals from ATMs easier and safer. It also promotes digital payments and financial inclusion in India.